Core Viewpoint - Biodexa Pharmaceuticals PLC is implementing a change in the ratio of its American Depositary Receipts (ADRs) to comply with Nasdaq's minimum bid price requirement, transitioning from one ADR representing 400 ordinary shares to one ADR representing 10,000 ordinary shares, effective October 4, 2024 [1][3]. Group 1 - The new ratio will require ADR holders to surrender their existing ADRs for cancellation and exchange, receiving one new ADR for every twenty-five old ADRs, with no fractional ADRs allocated [2][3]. - The change is effectively a one-for-twenty-five reverse ADR split, while the ordinary shares of Biodexa will remain unaffected by this adjustment [3]. - The primary goal of the ratio change is to bring the ADR price into compliance with Nasdaq's $1.00 minimum bid price per share requirement, although the company cannot guarantee the effectiveness of this measure [3].
ADR Ratio Change